Revolving Utilization definition
Revolving Utilization has the meaning specified in Section 2.12(a).
Revolving Utilization on any date, the quotient, expressed as a percentage, of the Total Revolving Extensions of Credit (determined excluding any Swingline Loans then outstanding) on such date divided by the Total Revolving Commitments on such date.
Revolving Utilization means at any time an amount equal to the sum of (A) a Lender's Proportionate Share of outstanding Letter of Credit Obligations and (B) such Lender's outstanding Revolving Loans.
Examples of Revolving Utilization in a sentence
Anything contained in this Credit Agreement to the contrary notwithstanding, in no event shall any Lender be required to make any Revolving Loan if, after giving effect to such Revolving Loan, (A) the aggregate amount of the Revolving Utilization of such Lender would exceed the Revolving Loan Commitment of such Lender or (B) the Total Revolving Utilization would exceed the lesser of (x) the aggregate of all Revolving Loan Commitments and (y) subject to SECTION 2.2(b), the Borrowing Base.